Company Also Plans 3Q 2019 Filing of Four Patents Covering GenUltimate TBG and GenChoice TBG Systems
LOS ANGELES, CA / ACCESSWIRE / April 23, 2019 / Decision Diagnostics Corp. (OTC PINK: DECN) Decision Diagnostics Corp. is a 17 year old diabetes focused bio-technology R&D firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for a growing brand of glucose test strips and meters as highly accurate alternatives for legacy diabetic, proprietary, and pet testing glucose test strips.
Decision Diagnostics is pleased to announce that its Korean R&D group in conjunction with CEO Keith Berman and his Stoney Fork new products experts have designed a method and determined meter specifics for the adding of the company's TBG technology to the upcoming GenChoice test strip now in FDA 510K review. Development of this newer version of the already new GenChoice test strip will be six months from the engineering feasibility to the filing of the 510K with the U.S. FDA.
Keith Berman, CEO of DECN commented, ''Our Korean partners approached us some five weeks ago and told us of their concept. I then asked my advanced development consultants to prepare the first engineering diagrams. Although the chemistries are different between GenUltimate and GenChoice, it became irresistible, and thus we have added the TBG features to our GenChoice tool box. The performance of the GenChoice TBG is expected to be at the +/- 7.5% level 97 or 98% of the time.''
The company's current portfolio of test strips includes its market established GenUltimate! and GenSure! test strips (for international use), plus the upcoming GenChoice!, and the outre' precise GenUltimate! TBG, GenPrecis! and now the GenChoice TBG systems (strip and meter). GenChoice, GenPrecis, and GenUltimate TBG are currently in one of regulatory review, clinical trials or advanced development. The company has also added the Avantage!, Precise! and Re'al! glucometers to its product lines. DECN is also involved in the pet testing markets with their PetSure! and GenUltimate! 4Pets testing products for dogs, cats and horses.
Mr. Berman continued, ''In addition to the new product entries, which are certainly exciting and company building, we also plan to file four patent applications in 3Q 2019 covering the TBG technologies for GenUltimate TBG and GenPrecis (two patents) and the GenChoice TBG (two patents). Sooner or later a well healed legacy provider, perhaps not currently in our sights, will attempt to recreate our pioneering HCT corrective technologies. We plan to be there to stop any incursion in this area.''
The company's Board believes that both of its current TBG system entries are laser beam focused on two well known and well traveled market channels, and we anticipate our two product lines will provide the basis for crafting exclusive licensing and/or M&A transactions, and these anticipated transactions will be a major part of our 2019 and 2020 business model. The company also plans an update in the coming days concerning our litigation with Johnson & Johnson and Lifescan, Inc., a short discussion on the proposed transactions in front of us, as well as a discussion on why our panacea TBG technology is so vital.
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $12 billion at-home testing market.
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of April 22, 2019, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
SOURCE: Decision Diagnostics Corp.